Recently, more and more non-bank institutions operate in the country, which grant loans via the Internet. One of the most popular loan offers is a “no loan” loan addressed to indebted persons. A person in debt is one who does not repay their loans, does not pay maintenance and those who are in arrears with rent or telephone charges. Put simply, a person in debt is a person who has had problems with repayment in the past. A person who has a negative entry in the Credit Information Bureau or a note about indebtedness in the National Register of Debtors is crossing out the chances of getting a loan from a bank. In this situation, non-bank companies come to the rescue.
Loans for those in debt in many parabanks are granted without credit check. This loan is intended for financial assistance for people who, unfortunately, are already in debt and do not have a clean credit history.
Can the debtor apply for a loan?
Getting a loan appearing in the debtors’ registers is not a simple task. Virtually every lender uses at least two registers, verifying their clients before granting them a loan. In this case, the indebted persons can take advantage of loans without credit check.
The fastest and most convenient form of financial support are loans via the Internet, because you can arrange everything without leaving your home. Online loans are not only convenient, easy and on favorable terms for the borrower, but also completely secure. Loans for the indebted include payday loans, unsecured loans, private loans, ID cards and more.
Contemporary non-bank companies have a special loan offer without debt for the indebted, on average they are offered up to USD 6,000 for 1-2 months, but there are institutions that grant up to USD 10,000. Anyone can apply for a loan without credit check. It is enough to be a citizen, have an income that in many cases does not have to be documented and be over the age of 18. Non-bank loans are used by people who care about time and need a small amount for a short period of time. They are also used by people who have a negative credit history or appear in the debtors’ registers.
A loan without credit check can be used for any purpose. Many people devote it to car repairs, vacation and renovation.
What is the debt security?
Reliable non-bank companies, guided by a responsible lending policy, cannot make money available to someone who does not have adequate financial security. In the case of indebted persons, another loan could lead to a loss of financial liquidity and leave the potential borrower without a livelihood. In the case of non-bank loans, such collateral is usually:
- car pledge – If you decide to take out a car loan, you will need to sign a contract to transfer the vehicle through the loan institution. Based on this document, the lender becomes the owner of the client’s car by 51%.
- third party surety – deciding on such a step, the indicated surety will be burdened with the necessity to settle the borrower’s debt at the moment when he stops paying it off.
The above loan options give you the opportunity to borrow money even if the financial situation of the potential borrower does not look very interesting. When deciding on such solutions, however, you must remember that they are subject to considerable risk. In the case of a car loan, you can lose it, and choosing a loan with a guarantee also puts the other person in trouble.